Evesham collapse - more details emerge

TROUBLED SYSTEM BUILDER EVESHAM TECHNOLOGY has issued a statement containing more details of the company's move into administration and plans for the future. One hundred and fifty jobs have been axed, leaving the Worcestershire company with a headcount of 138. Details of the board of the new company, Geemore Technology, which will trade under the Evesham Technology name, remain to be confirmed at press time.

Evesham Technology Chairman Richard Austin, issued the following statement at 1600BST today:

"I can confirm that Evesham Technology went into administration on Friday 3rd August. It's no secret that Evesham Technology has been going through some financial difficulties having not been able to replace lost revenue of £30 million which was wiped off of the company's turnover following the decision made by the Government to axe the HCI (Home Computer Initiative) at short notice. Other strong companies in the industry were hit hard by the demise of the HCI scheme. Many of these companies have not been fortunate enough to continue trading, resulting in the closure of many established UK companies and a loss of a number of jobs.

"We had heavily invested and allocated many resources to the HCI scheme and as a result around 150 loyal and hardworking Evesham staff have also unavoidably lost their jobs. Many of the staff had worked for Evesham Technology for a number of years and so it is a sad loss to the Evesham Technology family, and to me personally. I have built this company from nothing over a 24 year period and only wish we could have avoided this situation.

"The Evesham Technology brand has received an investment of $22 million from well known investor in the industry, Tahir Mohsan of PCC Technology, who recognized the potential of the Evesham brand and the popularity of its products. The company now known as GeeMore Technology Ltd will continue trading as Evesham Technology. As it stands 138 people are still employed here at Evesham.

"Although we are all very sad that we have to continue trading without valuable, long standing Evesham staff, we will continue to trade in the UK as one the UK's leading PC and Consumer Electronics manufacturers and uphold our enviable reputation for service and support. We hope that we have now past [sic] this unfortunate time in our company's history and can look to a positive future.

"We would like to reassure all of our customers that they will continue to receive support from Evesham and that their existing warranties will continue to be handled with Evesham's award winning service, as before." µ

See also
Evesham goes into administration
Evesham goes through all manner of changes